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Marshall Mathers, better known as Eminem, once openly admitted to being cautious with money, a habit that might have played a key role in building his $250 million empire.
What Happened: In a 2011 interview with Anderson Cooper on 60 Minutes, Eminem revealed his surprisingly thrifty mindset despite his immense success.
When Cooper asked if he enjoyed spending money, the rapper replied, "Not particularly." Cooper then shared a story about Eminem calling his manager to ask if he <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38138323/rolex-ceo-does-not-like-treating-luxury-watches-as-stock-investments-this-sends-the-wrong-">could afford</a> a Rolex watch.
Recalling the moment, Eminem said, "Yeah, I think it was a Rolex. And I asked him, could I afford it? They make fun of me for it, but I'm for real. This whole money thing was brand new to me."
While Cooper teased him for being a hip-hop artist who avoids flashy spending, Eminem defended his practicality. "I bought the Rolex; it's not a cheap watch. I still have it. I don't wear it because I don't want to scratch it," he said.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/07/39892457/eminem-dethrones-taylor-swift-with-new-album-the-death-of-slim-shady">Eminem Dethrones Taylor Swift With New Album &#8216;The Death Of Slim Shady&#8217;</a>
Instead, Eminem revealed he wears a G-Shock watch, manufactured by Casio Computer (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSIOY#OTC">CSIOY</a>), valued at around $100, as a practical and durable alternative to luxury brands.
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<iframe loading="lazy" title="Financial Advisor Reacts to Eminem&#039;s approach to SPENDING MONEY!" width="500" height="281" src="https://www.youtube.com/embed/ojZ8N6j9sU8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
Why It Matters: Growing up in Detroit, Michigan, Eminem faced financial struggles that shaped his cautious approach to money.
However, today, the "Lose Yourself" rapper has a net worth of $250 million, <a href="https://www.celebritynetworth.com/richest-celebrities/richest-rappers/eminem-net-worth/">according</a> to Celebrity Net Worth. He has built a diverse portfolio that extends far beyond music.
Eminem has made over $107.5 million in digital sales, with streaming revenue alone adding between $11 million and $20 million, <a href="https://moneymade.io/learn/article/eminem-net-worth">reported</a> Money Made, citing the Recording Industry Association of America.
His record label, Shady Records, and highly successful tours, including a $36.4 million-grossing tour with Rihanna, have further bolstered his wealth.
Beyond music, Eminem has expanded into acting, with his 2002 biopic "8 Mile" grossing $243 million worldwide and earning him an Academy Award for Best Original Song.
He's also ventured into brand endorsements, partnering with companies like Nike and Carhartt, and made strategic investments in stocks, startups, and NFTs.
Photo Courtesy: Shutterstock.com
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40758126/if-you-invested-1000-in-bitcoin-when-eminem-mentioned-the-crypto-in-best-selling-album-kam">If You Invested $1000 In Bitcoin When Eminem Mentioned The Crypto In Best-Selling Album &#8216;Kamikaze&#8217;, Here&#8217;s How Much You&#8217;d Have Today</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Eminem Wasn't Sure If He Could Afford A Rolex Despite His Success — How The Rap Legend's Thrifty Habits Helped Him Build A $250M Empire Spanning Real Estate And NFTs

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Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

<a href="https://www.benzinga.com/startups/24/11/41852620/theres-a-great-place-to-go-when-youre-broke-to-work-says-dave-ramsey-about-a-piece-of-advice-he-got">Dave Ramsey</a> has built a name for himself as the financial guru who preaches a simple, no-nonsense approach to money: ditch the credit cards, pay off your debt and live within your means. Millions have embraced his advice, <a href="https://www.benzinga.com/personal-finance/24/09/40920706/billionaire-mark-cuban-says-his-credit-was-so-bad-radio-shack-denied-him-if-you-use-credit-cards">cutting up their credit cards</a> and committing to his cash and debit-only spending philosophy. But for one former Ramsey follower, this rigid system left them in a devastating bind during a family emergency.
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"We were dumb and bought into the no credit card thing," the user shared in a Reddit post. For a while, life seemed manageable. They were "moving along. Slowly. But moving." That changed when a death in the family required them to travel out of town. Without a credit card, they couldn't rent a car. "Tried every place at the airport. Found only one place that would rent using a debit card and they required proof of return flight. I didn't have the money to fly, so I didn't have a return flight!"
The user, left with no other option, explained, "Had to Uber to the funeral home and then beg for a ride off someone to get to the cemetery." Then, they had to beg for more rides back to the bus station. What should have been a moment to focus on grieving turned into a humiliating scramble because they followed Ramsey's directive to never use credit cards.
See Also: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Ramsey is firm on this point: credit cards are dangerous, unnecessary and should never be kept, even for emergencies.&nbsp;
"Get rid of the credit cards NOW so you don&#8217;t use them in a moment of weakness," he's stated, according to Fox Business. Ramsey believes that having credit cards encourages overspending and reliance on debt. Instead, he recommends building an emergency fund with 3–6 months' worth of expenses and living strictly on cash and debit cards.
Ramsey even directly addressed the car rental issue in a June 2022 Instagram post. He wrote, "Yes, you can still rent a car or an apartment or even get a mortgage without a credit score. It takes a little more effort to live without one, but it&#8217;s a lot better than owing people money for the rest of your life."
<a href="https://www.instagram.com/p/CfCAN9qObUr/?igsh=MTVzbW05cms5Y2p5Yg==">https://www.instagram.com/p/CfCAN9qObUr/?igsh=MTVzbW05cms5Y2p5Yg==</a>
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
But as the Reddit user discovered, life doesn't always work within the confines of a perfect financial plan. Emergencies happen and there are situations where cash and debit simply don't suffice. After their funeral ordeal, they decided to get a credit card but found the process difficult and frustrating due to their lack of recent credit history. They eventually secured a low-limit, high-fee card and began rebuilding from scratch.
The issues didn't stop there. Later, lenders turned them down when they tried to refinance their home because of their limited credit history. "No one would touch us. We were never late with a payment, but had no real credit history for the past year or so," they explained. Even Ramsey's financial advisors offered little help, suggesting they find a private lender operating as an LLC. "Seriously. That's insane," they wrote.
Trending: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
Looking back, the Reddit user admitted they made a mistake. "Our own stupid fault for believing this blowhard and his advice," they said. Other commenters pointed out that there's a middle ground. "I think you could've just paid off the credit card and not used it or kept it only for emergency situations such as this," one person suggested.
This story highlights the potential downsides of Ramsey's <a href="https://www.benzinga.com/personal-finance/24/07/39735296/dave-ramsey-says-you-should-withdraw-at-8-in-retirement-but-suze-orman-says-absolutely-not-and-c">one-size-fits-all approach</a>. While his advice has helped many people escape crushing debt, it doesn't account for the complexities of modern life. Credit cards aren't inherently bad – they're tools and like any tool, they can be misused. Keeping a credit card for emergencies, maintaining good credit history and using it responsibly could have saved this family from significant stress.
"Just beware the advice you take," the user warned. Ramsey's rigid <a href="https://www.benzinga.com/personal-finance/24/11/42172292/caller-asks-dave-ramsey-are-you-smarter-than-warren-buffett-as-he-claims-index-funds-outperform-actively-managed-funds-by-50">rules might work for some</a>, but for others, they could lead to being stranded in their moment of greatest need.
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Personal Finance

'Had To Uber To The Funeral Home And Beg For A Ride' – This Family Says Dave Ramsey's No-Credit Advice Failed Them

The trading activity of members of Congress is closely followed by investors as the buying and selling of stocks can come based on alleged information. Now investors have to follow the trading activity of Congress members when it comes<a href="https://www.benzinga.com/topic/meme-coins"> to meme coins.</a>
What Happened: A trading disclosure by Rep. Mike Collins (R-Ga.) caught the attention of social media as he disclosed buying two cryptocurrencies this week following his recent trading activity of<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36598903/move-over-bitcoin-etf-this-congressman-has-been-buying-ethereum"> buying and selling cryptocurrency.</a>
Collins disclosed that he bought $2,000 to $30,000 worth of meme coin Ski Mask Dog (CRYPTO: SKI) based on two transactions of $1,000 to $15,000 in size. The congressman also disclosed buying Aerodrome (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">AERO</a>), a cryptocurrency he has purchased before.
The disclosures can be found on the <a href="https://www.benzinga.com/gov-trades/members/mike-collins">Benzinga government trading page </a>for Collins. 
Several of the most well-known social media accounts that track congressional trading activity tweeted about the unusual purchase.
<ul>
<li>"Congressman @RepMikeCollins bought crypto ‘Ski Mask Dog' $SKI two days ago. The coin is up +210% in the last seven days," Congresstrading <a href="https://x.com/congresstrading/status/1863999720747680247">tweeted</a>.</li>
<li>"Just came across one of the wildest trades I've seen. U.S. Representative Mike Collins just bought up to $30K of a cryptocurrency called ‘Ski Mask Dog'. It appears to have a market cap of less than $100M," QuiverQuant <a href="https://x.com/QuiverQuant/status/1863957645951934886">tweeted</a>.</li>
<li>"Look at this. US politician Michael Collins buys up to $15,000 of $AERO crypto and up to $15,000 of SKI MASK DOG crypto. Unusual," Unusual Whales <a href="https://x.com/unusual_whales/status/1863972451161620912">tweeted</a>.</li>
</ul>
While all three tweets attracted interest on social media, it was the tweet from Unusual Whales that caught the attention of Collins, who <a href="https://x.com/RepMikeCollins/status/1864031318712946793">replied </a>to the tweet with a meme of Pepe the Frog, well-known in the crypto community thanks to the meme cryptocurrency Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>).
Collins confirmed the purchase with <a href="https://decrypt.co/294893/base-meme-coin-congressman-mike-collins">Decrypt</a>.
"I liked the coins, so I bought them," Collins told Decrypt. "Washington and Wall Street have stigmatized emerging technology in the crypto ecosystem for far too long, and it's about time that we start treating the industry with the respect it deserves."
When asked about meme coins and if they need to be disclosed by members of Congress for trading activity, Collins said yes.
"Meme coins should certainly be treated as any other asset, digital or otherwise."
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 Why It's Important: Collins isn't new to disclosing buying and selling cryptocurrency with past disclosures showing his trading of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Aerodrome, Velodrome (CRYPTO: VELO) and The Graph (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GRT</a>).
Collins&#8217; purchases of Ethereum have been larger in recent disclosures compared to the meme coin he recently bought. The congressman has also disclosed selling some of the cryptocurrencies in the past, which could make the recent meme coin buy one to watch in case he later shows he sold it after the recent gains.
Members of Congress have <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38362018/congressman-buys-bitcoin-near-all-time-highs-how-much-has-he-lost-so-far">previously disclosed</a> buying Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>). Sometimes they also disclose more unusual purchases like former Rep. Madison Cawthorn (R-N.C.) <a href="https://www.benzinga.com/markets/cryptocurrency/22/06/27515201/blockchain-data-shows-undisclosed-trades-in-rep-madison-cawthorns-ethereum-wallet-report">buying the </a>Let's Go Brandon meme coin.
Aerodrome trades at $1.83, up 27% in the past seven days and up 14% over the past 24 hours. The cryptocurrency hit a new one-month high of $1.95 earlier today.
Ski Mask Dog, which began trading earlier this year, now has a market capitalization of more than $230 million. The meme coin has soared in value and is up 76% over the past 24 hours, likely due in part to Collins' disclosure.
The meme cryptocurrency currently trades at $0.241 at the time of writing, hitting a new all-time high of $0.2551 earlier Wednesday.
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Photo: Shutterstock

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Congressman Buys Meme Coins? Ski Mask Dog Coin Climbs In Value After Disclosure: 'I Liked The Coins, So I Bought Them'

Federal Reserve Chair Jerome Powell said the U.S. economy remains strong and even commented on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) at the New York Times <a href="https://www.benzinga.com/24/12/42324505/jerome-powell-says-us-economy-in-remarkably-good-shape-fed-can-be-little-more-cautious-with-interest-rates">DealBook Summit on Wednesday. </a>
The Details: "The U.S. economy is in very good shape right now. It's in remarkably good shape, we are sort of the envy of other large economies around the world, and I'm going to do everything I can to keep it there during the rest of my term, and I feel very good about where the economy is and where monetary policy is," Powell said.
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Powell said the current state of the economy allows the Fed to exercise caution in moving rates back down to a more neutral level.
"We view this as slightly hawkish — but stopping well short of challenging the market's growing confidence that a December cut is the base case, which has been our view all along," Krishna Guha at Evercore said, per Bloomberg.&nbsp;
The Fed's next rate decision is scheduled for Dec. 18 and markets are placing about a 75% probability that the Federal Open Market Committee will cut its key borrowing rate by a quarter percentage point. According to CNBC, the <a href="https://www.cnbc.com/2024/12/04/powell-says-hes-not-worried-about-the-fed-losing-its-independence-under-trump.html">expectation</a> is that the Fed then skips the January meeting before cutting a few more times in 2025.
Powell on BTC: Powell <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42325788/fed-chair-powell-bitcoin-is-like-gold-just-virtual-and-digital">also addressed </a> Bitcoin at the DealBook Summit. 
"People use Bitcoin as a speculative asset. It's like gold — it's just virtual and digital," Powell<a href="https://x.com/andrewrsorkin/status/1864379310599196846"> said</a> during the discussion.
"It's not a competitor for the dollar. It's really a competitor for gold," he added.
The price of Bitcoin pushed higher, approaching the $100,000 level, after Powell's comments and crypto-proponents spoke out on social media.&nbsp;
Anthony Pompliano, CEO of Professional Capital Management, reflected on the crypto market's reaction to Powell's comments.&nbsp;
"Bitcoin is going up because people are realizing central banks and countries don&#8217;t hate Bitcoin anymore. Poetic," Pompliano <a href="https://x.com/APompliano/status/1864415928831619304">posted </a>on X. 
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Photo: Shutterstock

Federal Reserve

Markets

Fed Chair Powell Says Economy Remains Strong, Bitcoin Is 'Like Gold': Expert Weighs In

On Wednesday, former Speaker Nancy Pelosi (D-Calif.) publicly backed President Joe Biden&#8217;s controversial decision to pardon his son, Hunter Biden.
What Happened: Pelosi expressed her support for the presidential pardon, stating, &#8220;I support the president.&#8221; When asked if she specifically backed the pardon, Pelosi said, &#8220;The pardon, yes,&#8221; <a href="http://What Happened: As per The Hill, Pelosi expressed her support for the presidential pardon, stating, &quot;I support the president.&quot; When asked if she specifically backed the pardon, Pelosi affirmed, &quot;The pardon, yes,&quot; reported The Hill.">reported</a> The Hill.
This endorsement is in stark contrast to the reactions of several Democrats on Capitol Hill and beyond, who have openly criticized Biden&#8217;s move. Sen. Gary Peters (D-Mich.) stated that the pardon &#8220;was wrong,&#8221; and Sen. Michael Bennet (D-Colo.) argued it puts &#8220;personal interest ahead of duty.&#8221;
Biden announced a &#8220;full and unconditional pardon&#8221; for his son on Sunday night, causing a stir in Washington. This move marked a significant shift from the White House&#8217;s previous stance, which had consistently denied any intention to pardon Hunter Biden or commute his sentence.
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42202403/elizabeth-warren-bernie-sanders-12-congress-members-to-biden-issue-clemency-and-pardons-for-cannabis-prisoners?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren, Bernie Sanders &amp; 12 Congress Members To Biden: Issue Clemency And Pardons For Cannabis Prisoners</a>
Pelosi&#8217;s support is particularly noteworthy given the circumstances surrounding Biden&#8217;s decision to drop his reelection bid earlier this year. Pelosi was reportedly among the Democrats urging Biden to step down from the presidential race.
Why It Matters: The pardon, announced on Sunday, was <a href="https://www.benzinga.com/24/12/42258387/biden-grants-full-and-unconditional-pardon-to-hunter-i-hope-americans-will-understand">justified by Biden </a>as a response to the selective and unjust prosecution of his son. The President argued that his son was treated differently than others who had committed similar offenses.
Historically, Biden is not the first president to pardon a family member involved in legal or political controversy. Former presidents Bill Clinton and Donald Trump also <a href="https://www.benzinga.com/markets/cannabis/24/12/42274099/after-hunter-pardon-biden-may-consider-others-what-to-expect">pardoned family members</a>.
Following Biden&#8217;s pardon of his son, speculation has intensified about potential pardons by President-elect Trump, with traders assigning an <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42273301/joe-biden-pardons-hunter-donald-trump-likely-to-pardon-january-6-protestors-polymarket-traders-speculate">85% chance of a pardon</a> for the January 6th rioters in the first 100 days.
Image via Flickr/ Gage Skidmore
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Nancy Pelosi Stands With Biden On Hunter Pardon: 'I Support The President'

Southeast Asia's leading superapp leverages AWS to enhance operational efficiency across eight countries
At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, and Grab, Southeast Asia's leading superapp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>), announced that Grab has selected AWS as its preferred cloud provider. With AWS, Grab is pursuing a technology-led strategy to accelerate growth across its mobility, deliveries, and financial services verticals, including its new digibanks, while continuing to improve its operational efficiencies and reduce IT infrastructure costs.

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Grab Selects AWS As Its Preferred Cloud Provider To Drive Technology Innovation And Growth

Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>, ASX:MSB))), global leader in allogeneic cellular medicines for inflammatory diseases, today announced the United States Food and Drug Administration (FDA) has granted its second generation allogeneic, STRO3-immunoselected, and industrially manufactured stromal cell therapy Revascor&#xAE; (rexlemestrocel-L) Regenerative Medicine Advanced Therapy (RMAT) designation following submission of results from the randomized controlled trial in children with hypoplastic left heart syndrome (HLHS), a potentially life threatening congenital heart condition.

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Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen")), Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, ", Biogen", ) announced today that the Federal Commission for the Protection Against Sanitary Risk (COFEPRIS) in Mexico has approved humanized anti-soluble aggregated amyloid-beta (Aβ) monoclonal antibody "LEQEMBI&#xAE;" (lecanemab) for the treatment of early Alzheimer's disease (AD)&#x2A;.

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Biogen Announces LEQEMBI Approved For The Treatment Of Early Alzheimer's Disease In Mexico

Fourth Quarter 2024 Financial and Operational Update
The Company is increasing its fourth quarter 2024 Adjusted EBITDA&#x2A; guidance to a range of $36 million to $39 million, compared to its prior expectation for a range of $33 million to $36 million. The primary drivers behind the updated range are continued enhanced utilization levels and improved cost absorption in the Solaris Power Solutions segment. The Company expects to deploy an average of approximately 250 MW during the fourth quarter, which reflects full utilization of its currently available asset base. In its Solaris Logistics Segment, the Company expects results to be relatively in line with expectations, which should continue to support strong total company operating cash flow generation in the fourth quarter.
Solaris Power Solutions Growth Capital Update
The Company recently placed orders for 9 additional 16.5 megawatt ("MW") gas-fired turbines to support rapidly accelerating customer demand, totaling approximately 145 MW in incremental generation capacity. Solaris now expects to exit first quarter 2026 with approximately 680 MW of generation capacity. The Company expects to invest up to $120 million for the new turbine order, including ancillary equipment. Additionally, the Company expects to invest approximately $40 million in Selective Catalytic Reduction ("SCR") technology to further enhance the emissions profile of the fleet in support of multi-year installations on selected locations. This expected approximately $160 million growth capital investment should occur primarily over the course of 2025, with equipment deliveries scheduled to occur from fourth quarter 2025 through first quarter 2026.

Guidance

Solaris Energy Infrastructure Increases Q4 2024 Adjusted EBITDA Guidance From $33M-$36M To A Range Of $36M-$39M

In their newly appointed roles by Donald Trump of leading the Department of Government Efficiency, Elon Musk and Vivek Ramaswamy have their sight set on <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">eliminating government waste.</a>
The duo could have a new target to tackle: daylight saving time.
What Happened: Musk and Ramaswamy have made headlines for sharing programs and government agencies they will target in their newly announced positions of leaders of the Department of Government Efficiency, or D.O.G.E for short.
Billionaire Musk recently sparked speculation that he could have his targets set on eliminating daylight saving time with a tweet recently.
"Looks like the people want to abolish the annoying time changes!" Musk <a href="https://x.com/elonmusk/status/1861801650383659230">tweeted </a>last week, linking to an X user's poll.
Ramaswamy seemed to agree, replying "it's inefficient &amp; easy to change."
While it was not clear if the duo were serious about working on a change, it's not the first time and might not be the last time that the discussion escalates on ending the practice of changing clocks twice a year.
Daylight saving time is the process of moving clocks forward one hour in the spring and moving clocks back one hour in the fall, a practice that has to do with the number of hours with daylight for daily routines like work and school.
The process of changing time on clocks can lead to loss of sleep in the morning, missed appointments and public health problems, <a href="https://www.washingtonpost.com/health/2024/12/03/daylight-saving-time-musk-ramaswamy/">according </a>to the Washington Post.
Sen. Tommy Tuberville (R-Ala.) voiced support for Trump and Ramaswamy to make daylight saving time permanent.
"The outdated practice of changing our clocks twice a year and needs to end," Tuberville <a href="https://x.com/SenTuberville/status/1864072109074342100">tweeted</a>.
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Why It's Important: A push for year-round daylight saving time could see clocks move ahead one hour and never fall back for more people around the world to enjoy sunshine, according to the report.
"Switching the clocks just doesn't make sense for a country on the move," Sen. Edward J. Markey (D-Mass.) told the Washington Post. "But we need permanent daylight saving time — more hours of daylight in the evening means more hours to get things done."
The Washington Post said public health groups think a permanent standard time could improve overall health and decrease the risk of heart attacks and stroke.
"There is significant stress on the body, and changes that occur, when we are not aligned to the right internal clock," University of California at San Francisco-Fresno sleep medicine physician Lourdes DelRosso told the Washington Post earlier this year.
A YouGov poll in March 2023 cited by the report said 62% of Americans were in support of ending the practice of daylight saving time. Around 50% of the poll found that people preferred year-round daylight saving time, with around a third wanting permanent standard time.
Along with health savings by making a change there could be economic savings. A <a href="https://www.chmura.com/blog/dst">study </a>from Chmura Economics &amp; Analyst estimates that the total economic cost of daylight saving time in the U.S. is $672.02 million annually.
This total includes $374.75 million from increased heart attacks, $251.53 million from increased strokes, $18.35 million other workplace injuries and $27.39 million from increased traffic accidents.
What's Next: The debate on daylight saving time has waged on for years and while many support making a permanent change, legislation has stalled and nothing has been done.
Hawaii and part of Arizona currently operate on a permanent standard time clock and some U.S. territories like American Samoa, Guam and Puerto Rico do the same.
Trump has shown past support of making daylight saving time permanent, as <a href="https://thehill.com/homenews/administration/5020756-tuberville-daylight-saving-time-doge/">reported </a>by The Hill.
In the early 1970s, a decision to adopt permanent daylight saving time was reversed 10 months later after receiving complaints about children waiting in the dark for school buses.
Attempts to change daylight saving time could require Congress to pass a bill, which could make Musk and Ramaswamy's attempts a starting point, but potentially not a final one.
The Transportation Department currently oversees daylight saving time and said it does not have the power to change without Congress, as reported by The Washington Post.
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Photo: New Africa via Shutterstock

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Macro Economic Events

Economics

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WisdomTree Form4 Filing Shows ETFS Capital Limited Sold 3M Shares Of Common Stock At A Price Of $11.34/Share

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Intel Corp., fresh off the abrupt departure of Chief Executive Officer Pat Gelsinger, stuck with its current financial forecast during a presentation Wednesday while also saying it would keep a tight rein on capital spending.
"We stand by the guidance that we gave at earnings," Chief Financial Officer and interim Co-CEO Dave Zinsner said during the UBS Global Technology and AI Conference on Wednesday. He also said that Intel's "core strategy" remains intact.

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PG&E Corp Entered Agreement With Underwriters As Per Which, Agreed To Sell 48.7M Shares Of Common Stock

<a href="https://www.cnbc.com/2024/12/04/jetblue-cuts-routes-europe-flights.html">https://www.cnbc.com/2024/12/04/jetblue-cuts-routes-europe-flights.html</a>
&nbsp;
<ul>
<li>JetBlue has been focused on cutting unprofitable flights to stem losses.</li>
<li>The carrier also has been trimming underperforming routes to focus on core markets.</li>
<li>JetBlue is ending some Miami flights and said the carrier will be overstaffed there.</li>
</ul>
<a href="https://www.cnbc.com/quotes/JBLU/">JetBlue Airways</a> told staff Wednesday that it is axing more unprofitable flights, redeploying aircraft outfitted with its high-value business class and tweaking Europe service, the carrier's latest moves to return to consistent profitability and cut costs.
It will also stop using planes with Mint business class on Seattle flights in April.
&nbsp;
JetBlue said it will cut flights from Fort Lauderdale, Florida, to Jacksonville, Florida; from New York's John F. Kennedy International Airport to Austin, Texas; Houston, Texas; Miami; and Milwaukee, Wisconsin; and from Westchester, N.Y. and Milwaukee. It will also end service to San Jose, California.
JetBlue said ending service between JFK and Miami will make the carrier over-staffed in Miami and that it's working with crew members on options, like working in other cities it serves.
"Florida remains a strong geography for JetBlue, however post-COVID we haven't been profitable in Miami due to the dominance of legacy carriers like <a href="https://www.cnbc.com/quotes/AAL/">American</a> and <a href="https://www.cnbc.com/quotes/DAL/">Delta</a> there," wrote Dave Jehn, JetBlue's vice president of network planning and airline partnerships, in a staff note, which was seen by CNBC.
It will continue serving Miami from Boston.
JetBlue will announce some new Europe service next week, the memo said. But starting in the summer 2025 travel season, it will drop its second JFK-Paris flight and its summer-only service between New York and London's Gatwick Airport, said Jehn.
&nbsp;
The changes were announced after JetBlue said its revenue and bookings have come in better than expected for November and December, sending shares up more than 8% on Wednesday. <a href="https://www.cnbc.com/2024/02/12/jetblue-resets-with-new-ceo-joanna-geraghty-airline-veterans.html">CEO Joanna Geraghty</a> and her team are focusing on reducing costs and culling unprofitable routes, such as those on the West Coast, as they grapple with a Pratt &amp; Whitney engine grounding and post-pandemic shifts in demand.
JetBlue said customers who are affected by the changes can select alternate flight options or receive a refund if other routes aren't available.
"Recently, we made some network adjustments in certain markets, removing some underperforming flying from our schedule, allowing us to redeploy resources, including our popular Mint service, toward high-demand markets and new opportunities," JetBlue said in a statement.

JBLU

'JetBlue Cuts More Unprofitable Routes, Tweaks Europe Flights' - CNBC

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Dividends

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ArrowMark Financial Corp. Announces Special Distribution Of $0.20 Per Share Generated From Excess Income

BJDX

Bluejay Diagnostics Regains Compliance With Nasdaq Listing Rule 5550(a)(2)

Inter& Co reports Q3 results

Inter & Co, Inc. 2024 Q3 - Results - Earnings Call Presentation

Inter & Co, Inc. (INTR) Q3 2024 Earnings Call Transcript

Analyst Jorge Kuri of Morgan Stanley maintained a Sell rating on Inter & Company Incorporation Class A (INTR – Research Report), with a price targe...

Inter & Company Faces Profitability Challenges and Regulatory Uncertainties Amid Growth

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Analysts Offer Insights on Financial Companies: Factset Research (FDS), Inter & Company Incorporation Class A (INTR) and Lemonade (LMND)

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HOOD

INTR

ITUB

LMND

MARA

SEZL

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Press Releases

Inter&Co presents new brand and consolidates position as financial Super App

IPOs

Inter&Co Announces Commencement of Follow-on Public Offering of its Class A Common Shares

Inter&Co Secures Long-Term Naming Rights for Orlando's Soccer-Specific Stadium

Earnings

Inter&Co Inc. Reports Record Profits, with R$352 Million in Net Income in 2023

Inter&Co Inc. Reports Record Profit

S&P reviews Banco Inter's outlook to Stable and reaffirms its "brAA+" rating

Inter&Co doubles down on SMEs through acquisition of Granito

Moody's assigns debut AA+.br ratings to Inter, recognizing strong financial position

Inter&Co Inc. Reports Record Profit in Q2, Advances 60/30/30 Plan

Inter&Co Inc. Reports Another Record Net Income of R$260M, And Remains On Track On Its Long-Term Plan

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